Apple has made amazing progress in India last year, with the CEO, Tim Cook saying that Apple’s revenue within that market has doubled over the last year due to the large demand for its products.
Calculations show that the tech giant has produced $4 billion in revenue in India last year. More importantly, recent data shows that Apple is on the right track to continue its momentum within the Indian market this year as well. Let’s see why that might be the case.
Apple’s products have been selling fast in India
The iPad and the iPhone are in high demand in the Indian markets. Apple’s smartphone sales in India increased 150% in Q4 of 2021 — for the few months ending in Sept. 2021 — to 1.53 million units sold. Sales of the iPad have reportedly increased 109% year over year to 240,000 units.
Apple has kept up its impressive rate of growth in India in the quarter that ended in Dec. CyberMedia Research has estimated that iPhone sales increased 48% last quarter to 2.2 million units sold even with the supply chain-related issues. For year 2021, it is estimated that Apple’s iPhone shipments to India have increased about 108%, with Apple having controlled around 44% of the market for smartphones priced over $400.
Apple is predicted to capture even more of the market share within India in 2022 on the back of newer products, such as the iPhone SE 5G that is rumored to be released next month, an increased production locally, and a jump in retail presence. The Apple smartphone market share in India has reportedly doubled in 2021 to 4% and is expected to jump 5.5% this year.
Another great year is in the cards
The avg. selling price of smartphones in India has increased 14% in 2021 to around $227, driven by a boost in demand for its premium phones (priced around $400 or above). Indian consumers are now starting to prefer the higher-priced smartphones instead of $200 or less phones, and that is playing in Apple’s favor.
Apple has enjoyed a 44% share of the $400 smartphone sales in the Indian market, and that might be a key driver of its growth in 2022 and beyond. That is because consumers in India are buying 5G smartphones in large numbers.
This can explain why Apple has been enjoying great growth within the Indian smartphone markets. Given that the 5G smartphone market in India is in its nascent phase currently and Apple’s new 5G iPhone SE is thought to be priced below $399, the new device might give the company an excellent boost in that market in 2022 and beyond.
More importantly, India might become a major market for Apple in the future, as sales of the 5G smartphone start to increase there. India’s 5G phone sales are thought to increase up to 88 million units by 2025.
Apple is already in a great position to tap into the emerging 5G opportunities in India, and that might give the company’s earnings and revenue a nice boost in the future as it starts gaining ground in the world’s second-biggest smartphone market.